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Newmont Forms Partnership with Maverix Metals Through Royalty Sale

Kitco News

Newmont Mining Corp. has agreed to sell its royalty portfolio to Maverix Metals Inc. (TSXV: MMX), an emerging precious-metals royalty and streaming company. Under the deal, Newmont says it will receive 60 million Maverix shares representing an ownership interest of 28%, $17 million in cash and warrants for an additional 10 million shares. Newmont’s royalty portfolio includes 54 precious metals and industrial minerals royalties, including TMAC Resources’ Hope Bay mine in Canada and Premier Gold’s McCoy Cove project in Nevada. “Our strategic partnership and equity interest in Maverix generates value for both companies’ shareholders,” says Randy Engel, Newmont’s executive vice president for strategic development. “Maverix’s management team has a strong track record of managing and growing high-quality royalty and streaming assets in favorable mining districts on four continents.”

By Allen Sykora of Kitco News; asykora@kitco.com

 

Silvercorp Metals Increases Semiannual Dividend

Tuesday May 29, 2018 10:18

Silvercorp Metals Inc., a Canadian company with multiple mines in China, announces that its semiannual dividend has been increased to $0.0125, up from $0.01. This will be paid to shareholders of record at the close of business on June 8, with a payment scheduled on or before June 29. Silvercorp says this is the third time in three years that the board of directors has upped the dividend.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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